The Michigan Economic Growth Authority (MEGA) has approved tax credits for three automotive suppliers that will create a total of 336 jobs within five years, Crain's Detroit Business reports.

Plasan Carbon Composites, a Bennington, Vermont-based company, will establish a technical development center, possibly in Wixom. The company will create 36 jobs and receive $697,000 in high-tech tax credits.

"The other states were working very hard to be competitive," said Plasan CEO James Staargaard. "But it doesn't just come down to the dollars. Access to the industry is what pushed Michigan over the top."

Plasan produces carbon fiber auto bodies for General Motors models including the Corvette Z06 and Z01, as well as the Dodge Viper.

Ring Screw, a Troy, Michigan, firm, will invest $5.1 million to expand in that city. The screw and fastener producer will create 150 jobs.

Piston Automotive, based in Redford Township, Michigan, will invest $15 million to expand its chassis parts facility there. It supplies Ford, GM, Honda, and AM General. Piston will add 135 jobs as part of the expansion.